The presentations included discussions on converting clients to fee-based accounts but neglected to explain how advisors should assess if such changes are appropriate for each individual clients.
Estimated reading time: 0 minutes, 22 seconds
Merrill Lynch Hit with $2.5M Fine Over Rule Lapse
Merrill Lynch has agreed to pay the state of Massachusetts a $2.5 million fine to settle claims that the company failed to have presentations for financial advisors and other seminar participants in Boston reviewed by its compliance department before being used. So reports Reuters.
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